Wednesday, November 8, 2017

SARASOTA / BRADENTON HOUSING 3Q17:Metrostudy

SARASOTA / BRADENTON HOUSING 3Q17: Hurricane Irma Impact is Limited as Quarterly New Home Starts are at Post-Recession Highs



  • Quarterly New Home Starts are up 3.4% YoY while Annual Starts are down 0.4% from 3Q16 levels
  • Affordability is getting squeezed in the lower price points as new home starts under $250k are down 20% YoY.
  • Despite Hurricane Irma, quarterly starts were the best we have seen post-recession. Sarasota-Bradenton is now building about 120% of the twenty year moving average. Irma may push some closings into 2018, but she did not materially impact our forecast for increasing housing starts in 2018 for Sarasota.



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